A-BAD AS: årsregnskap 2011 vs 2010
Grew 39% on revenue, stronger earnings
approved 2012-10-04; registry 2012-10-09; journal 2012 799377
Summary
What changed
Comparing Årsregnskap 2011 with 2010 for A-BAD AS. Revenue 504.7k NOK → 703.1k NOK (+39.3%). Net result +77.5k NOK → +173.3k NOK. Equity 190.5k NOK → 17.2k NOK.
On the constructive side: revenue rose; operating result improved; net result improved. Pressures included: equity eroded; current ratio dropped below 1×.
Also worth watching: thin equity buffer; payroll increased; cogs moved. All figures are taken from the published annual accounts for A-BAD AS.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 504.7k NOK to 703.1k NOK (+39.3% YoY). Calculated
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↑
Operating result improved
Operating result +114.5k NOK → +242.4k NOK (op. margin 22.7% → 34.5%). Calculated
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Net result improved
Net result +77.5k NOK → +173.3k NOK (net margin 15.4% → 24.7%). Calculated
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Cash rose
Bank deposits 9 583 NOK → 88.4k NOK (+822.0% YoY). Calculated
What deteriorated
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↓
Equity eroded
Book equity 190.5k NOK → 17.2k NOK (equity ratio 56.3% → 2.7%). Calculated
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↓
Current ratio dropped below 1×
Current ratio 2.22× → 0.77× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
Things to notice
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Thin equity buffer
Equity ratio is 2.7% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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·
Payroll increased
Salary cost 612 NOK → 10.1k NOK (0% → 1% of revenue). Calculated
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COGS moved
COGS / varekostnad 8 089 NOK → 195.1k NOK (+2312.4% YoY). Calculated